On 2nd July, the hacker who made use of Solana-based liquidity protocol Crema Finance returned many of the funds but was allowed to keep $1.6 million as a white hat bounty. The bounty of 45,455 Solana, is priced a benevolent 16.7% of the $9.6 million Crema that was misplaced initially. This pressure on the protocol led to sag the providers.
👉After a long negotiation, the hacker agreed to take 45455 SOL as the white hat bounty. Now we have confirmed the receipt of 6064 ETH + 23967.9 SOL in four transactions indicated below. A follow-up compensation plan will be released in 48h.
— CremaFinance (@Crema_Finance) July 6, 2022
Crema’s workers started an investigation regarding this matter to build the hacker by monitoring their Discord handle and also tracing the supply of the unique gasoline for the hacker’s attack. On July 6, the hacker returned 6,064 Ether(ETH) and also 23,967 SOL price which is roughly $8 million. The hacker returned the funds in an order of transactions on Ethereum and Solana networks. The first transaction that the hacker did on every community was to inspect with a minor quantity of cash, whereas the next transaction was the price of all the funds that were dispatched.
The users of Crema and their workers are way more relaxed now that the funds have been secured. The workforce was introduced on 5th July, earlier than when the deal had been reached, it submitted a new code for auditing for making sure that the identical use does not take place again. Although Crema workers have outlined the incident in a July 3 thread on Twitter since the neighborhood waits for an official autopsy. The attacker brought out a flash mortgage from the Solend decentralized Finance lending protocol, which they added as liquidity to a Crema pool. The hacker then faked the price to make it appear as if they had cleared a larger reward. With this, they took a huge fee amount price about $9.6 million from the pool to which they have added the flash mortgage.
